Equipment Finance Operations Manager

Peapack Private Bank & Trust is a well-recognized, high-performing boutique bank; a leader in wealth, lending and deposit solutions, capable of providing the most sought-after products and services that fulfill all of our clients' needs. We offer an innovative approach to private banking to help clients establish, maintain, and expand their legacy.

What makes Peapack Private different from our competition? We are an institution that's over 100 years old that has always believed in putting the well-being and needs of our employees and our clients first. We are proud to be recognized for the sixth consecutive year, by American Banker as one of the 'Best Bank to Work For' across the nation. Our secret sauce in one word is our 'culture'. We value a diverse, equitable, inclusive and safe workspace. Our one-team culture goes to great lengths to show all employees that they are valued members of the team. We treat each other as family, and as such, communicate throughout the Bank in a transparent and frequent manner, respect and value feedback from all levels and operate with a philosophy of hospitality and general human kindness.

There are multiple way to build relationships and get involved; from joining one of our Cultural Ambassador Sub-Committees focused on our Wellness, Employee Fun, Diversity & Inclusion, or Environmental Awareness, to involvement in multiple community service activities through our Volunteerism outreach, to joining LIFT (a committee focused on enriching the lives of women - Leading Inspiring Females Together). Said quite simply, the culture is amazing!

Seasoned manager with extensive business and equipment financing and leasing product expertise. Responsible for overall equipment financing lease and loan portfolio service management, supervision of staff and primary liaison with third party servicer and system vendor. A subject matter expert who will drive standardization of procedure and process improvement ensuring the operations team is aligned with strategic business goals.

Responsibilities:

Strategic Leadership and Operational Oversight (40%)

• Oversee all aspects of equipment finance loan and lease servicing from initial takedown to end of lease disposition.
• Ensure contract and asset data updates are processed timely and accurately with proper controls and segregation of duties.
• Research and reconcile transactions escalated by third party servicer including cash receipts, billing, partial payments, payoffs, asset splits, early buyouts, renewals/modifications and any other contract/asset transactions.
• Supervise tracking of documentation, collateral and insurance, including continuations and renewals.
• Review and reconcile equipment finance loan agent notices on participated transactions.

Process Improvement and Compliance (25%)

• Identify opportunities for process improvement increasing efficiencies.
• Write internal operations procedures and train team members.
• Review third party servicer procedures ensuring escalation points are clearly defined and meet internal requirements.
• Lead and coordinate weekly meetings with third party servicer, system vendor and accounting to ensure all open issues are resolved timely.

Systems Managements (20%)

• Supervise system release upgrade scheduling and third-party servicer testing process.
• Ensure system functionality and configuration aligns with business strategy and product needs.
• Review system functionality to determine modules, templates or reporting that may be available to enhance existing processes (i.e. booking process)
• Identify system gaps and resolve accordingly.
• Identify daily, weekly and monthly reporting needs, design and implement accordingly.
• Approve all vendor related invoices.

Project Management and Special Initiatives (10%)

• Liaison with internal and external auditors (15%)
• Responsible for compliance and SOX documentation
• Assist with identify operational KPI's
• Special projects

Required Qualifications:

• At least 10 years of equipment finance lease and loan product experience
• Direct and Indirect equipment finance product knowledge
• Ability to manage third party servicer SLA requirements
• Team member supervision and management experience
• LTi Aspire lease system knowledge with strong understanding of configuration settings and overall functionality
• Experience working with outsourced UCC search, filing and monitoring company.
• Strong change management and transformation experience
• Strong understanding of lease general ledger accounting including tax related knowledge
• Strong reconciliation skills
• Strong communication skills

Benefits

Peapack Private Bank & Trust offers medical, dental, and vision coverage to full-time employees, in addition to a competitive PTO package and 401k match.